Paris Airports Operator Plans €8.4B Spending to Stay Competitive
(Bloomberg) -- The operator of the main Paris airports plans to invest €8.4 billion ($9.8 billion) by 2034 to help boost capacity and stay competitive with growing hubs in the Middle East.
The spending would start in 2027 with the aim to accommodate another 18 million passengers at Charles de Gaulle and Orly airports, Aeroports de Paris SA said in a statement Wednesday. A proposed increase in airport charges would help pay for the plan.
ADP previously said it would spend at least €3.5 billion by 2035 to extend and upgrade the three existing terminals at Charles de Gaulle, adding more departure lounges and train lines.
The project would allow it strengthen “the competitiveness of the Paris airport market,” which is falling as costs rise, ADP said in the statement. It also would further the facilities’ transition toward more sustainable targets.
The operator, in which the French government holds a 51% stake, expects passenger traffic in Paris to grow by about 1.6% per year between 2026 and 2034, compared with 2.3% annually before the pandemic.
Some major European airlines are struggling to reach pollution-reduction targets, with several warning that ticket prices likely will rise to help pay for sustainable aviation fuel.
The operator also plans a cost-saving program of €130 million by 2034. The combined measures would allow ADP to maintain a dividend floor of €3 per share.
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